London Mayor Boris Johnson lashed out at a European Union cap on bankers' bonuses on Thursday, warning that the move will shunt banking business away from the City of London and towards Zurich, Singapore and New York.

A colossal savings glut in China, the world's second largest economy, means British workers in their twenties will only be able to retire at 75, a report by the Center for Economic and Business Research (Cebr) showed on Thursday.

Goldman Sachs seized on Japan’s buoyant stock market and local companies’ appetite for mergers to become the only large foreign investment bank to boost revenue, profit and headcount there last fiscal year.